Illinois Small Business Growth Corporation
- Assets
- $2.5m
- Revenue
- $7.9m
- Investments
- $0.0
- Employees
- 38
- Location
- Springfield, IL
- Founding
- 05/1984
- Data as of
- 09/2022
- EIN
- 37-1119582
Organization Overview
Illinois Small Business Growth Corporation is located in Springfield, IL. The organization was established in 1984. According to its NTEE Classification (S01) the organization is classified as: Alliances & Advocacy, under the broad grouping of Community Improvement & Capacity Building and related organizations. As of 09/2022, Illinois Small Business Growth Corporation employed 38 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Illinois Small Business Growth Corporation is a 501(c)(6) and as such, is described as a "Business League, Chambers of Commerce, or Real Estate Board" by the IRS.
For the year ending 09/2022, Illinois Small Business Growth Corporation generated $7.9m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 4.5% each year. All expenses for the organization totaled $7.9m during the year ending 09/2022. While expenses have increased by 4.5% per year over the past 7 years. They've been increasing with an increasing level of total revenue. You can explore the organizations financials more deeply in the financial statements section below.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2022
Describe the Organization's Mission:
Part 3 - Line 1
TO FURTHER ECONOMIC DEVELOPMENT BY PROMOTING AND ASSISTING THE GROWTH, DEVELOPMENT, AND EXPANSION OF BUSINESS CONCERNS THROUGHOUT THE STATE OF ILLINOIS AND ADJACENT LOCAL ECONOMIC AREAS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
CERTIFIED DEVELOPMENT COMPANY FOR U.S. SMALL BUSINESS ADMINISTRATION SECTION 504 LOANS.
CERITIFIED DEVELOPMENT COMPANY FOR U.S. SMALL BUSINESS ADMINSTRATION SECTION 504 LOANS.
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PDF Copies of 990 Filings
Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Joel Herscher VP / Loan Of | 40 | $565,000 | |
Douglas L Kinley President | Officer | 40 | $445,000 |
Steve Kirby VP / Loan Of | 40 | $395,000 | |
David Novak CFO | Officer | 40 | $305,000 |
Phil Maton Chief Credit | 40 | $161,067 | |
Gregg Kyes Chief Tech O | 40 | $153,000 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $164,237 |
| All other contributions, gifts, grants, and similar amounts not included above | $0 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $164,237 |
| Total Program Service Revenue | $7,721,034 |
| Investment income | $1,271 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $4,000 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $7,890,542 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $4,585,246 |
| Pension plan accruals and contributions | $571,709 |
| Other employee benefits | $901,295 |
| Payroll taxes | $296,663 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $72,000 |
| Fees for services: Accounting | $6,500 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $33,303 |
| Advertising and promotion | $368,119 |
| Office expenses | $79,927 |
| Information technology | $34,985 |
| Royalties | $0 |
| Occupancy | $274,445 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $103,916 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $91,311 |
| Insurance | $62,991 |
| All other expenses | $62,777 |
| Total functional expenses | $7,880,914 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $2,002,301 |
| Pledges and grants receivable | $78,719 |
| Accounts receivable, net | $143,590 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $0 |
| Net Land, buildings, and equipment | $155,541 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $98,363 |
| Total assets | $2,478,514 |
| Accounts payable and accrued expenses | $352 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $0 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $1,234,886 |
| Total liabilities | $1,235,238 |
| Net assets without donor restrictions | $1,243,276 |
| Net assets with donor restrictions | $0 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $0 |
| Total liabilities and net assets/fund balances | $2,478,514 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Indiana Chamber Of Commerce Inc Indianapolis, IN | $7,894,910 | $10,261,881 |
Greater Indianapolis Chamber Of Commerce Inc Indianapolis, IN | $15,080,070 | $11,498,115 |
German-American Chamber Of Commerce Of The Midwest Chicago, IL | $9,537,423 | $9,672,106 |
Greater Milwaukee Convention & Visitors Bureau Inc Milwaukee, WI | $13,303,680 | $5,924,757 |
The Chicago Association Of Realtors Inc Chicago, IL | $11,107,922 | $7,821,690 |
Illinois Small Business Growth Corporation Springfield, IL | $2,478,514 | $7,890,542 |
Mainstreet Organization Of Realtors Downers Grove, IL | $23,598,352 | $9,176,226 |
International Society Of Transport Aircraft Traders Chicago, IL | $15,949,487 | $6,305,891 |
Indiana Association Of Realtors Inc Indianapolis, IN | $16,694,252 | $6,642,922 |
Better Business Bureau Of Greater St Louis Inc St Louis, MO | $4,281,553 | $5,139,066 |
Louisville Chamber Of Commerce Inc Louisville, KY | $4,510,911 | $5,726,033 |
Springfield Convention And Visitors Springfield, MO | $1,284,082 | $4,581,352 |